Tudor Investment Corp ET AL Buys 9,932 Shares of RLI Corp. $RLI

Tudor Investment Corp ET AL boosted its stake in shares of RLI Corp. (NYSE:RLI) by 39.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,879 shares of the insurance provider’s stock after acquiring an additional 9,932 shares during the period. Tudor Investment Corp ET AL’s holdings in RLI were worth $2,275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Wasatch Advisors LP bought a new position in shares of RLI during the 2nd quarter valued at about $84,608,000. Norges Bank bought a new stake in shares of RLI in the second quarter worth about $74,533,000. Two Sigma Investments LP increased its holdings in shares of RLI by 353.1% in the third quarter. Two Sigma Investments LP now owns 446,378 shares of the insurance provider’s stock worth $29,113,000 after purchasing an additional 347,858 shares during the last quarter. UBS Group AG lifted its position in shares of RLI by 102.7% in the third quarter. UBS Group AG now owns 558,613 shares of the insurance provider’s stock worth $36,433,000 after buying an additional 283,083 shares in the last quarter. Finally, State Street Corp lifted its position in shares of RLI by 3.3% in the third quarter. State Street Corp now owns 8,750,315 shares of the insurance provider’s stock worth $570,696,000 after buying an additional 279,983 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors.

RLI Trading Down 1.6%

RLI stock opened at $56.37 on Friday. The stock has a market cap of $5.18 billion, a PE ratio of 12.93 and a beta of 0.50. RLI Corp. has a 12 month low of $55.80 and a 12 month high of $81.79. The company has a 50-day moving average price of $60.13 and a 200 day moving average price of $61.98.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.18. RLI had a net margin of 21.43% and a return on equity of 18.67%. The company had revenue of $465.69 million for the quarter, compared to analyst estimates of $447.53 million. During the same period in the prior year, the company posted $0.41 EPS. Sell-side analysts forecast that RLI Corp. will post 3.08 EPS for the current year.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, March 2nd. RLI’s dividend payout ratio is presently 14.68%.

Analyst Ratings Changes

Several research firms have weighed in on RLI. Jefferies Financial Group upgraded RLI from an “underperform” rating to a “hold” rating and set a $52.00 price target for the company in a report on Friday, January 23rd. Zacks Research cut RLI from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Truist Financial set a $58.00 target price on RLI in a research report on Friday, January 23rd. Wells Fargo & Company set a $59.00 target price on shares of RLI and gave the company an “equal weight” rating in a report on Friday, January 23rd. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of RLI in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, RLI currently has a consensus rating of “Hold” and a consensus target price of $65.20.

Insider Buying and Selling

In other RLI news, CEO Craig W. Kliethermes acquired 5,000 shares of the business’s stock in a transaction on Friday, January 23rd. The shares were bought at an average price of $57.45 per share, with a total value of $287,250.00. Following the transaction, the chief executive officer directly owned 143,990 shares of the company’s stock, valued at $8,272,225.50. The trade was a 3.60% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jennifer L. Klobnak bought 2,000 shares of RLI stock in a transaction on Friday, January 23rd. The stock was acquired at an average price of $57.99 per share, for a total transaction of $115,980.00. Following the purchase, the chief operating officer owned 100,318 shares of the company’s stock, valued at approximately $5,817,440.82. This trade represents a 2.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.16% of the stock is currently owned by company insiders.

About RLI

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.